The output of food, beverages, and tobacco in Belgium has shown fluctuating trends from 2013 to 2023, standing at 47.99 Billion Euros in 2023. Notable variations include a strong growth of 3.64% in 2016, 5.44% in 2017, and a dip of 3.69% in 2020. More recent years show steady increments, with a 2.13% increase in 2022 and 2.06% in 2023. The compound annual growth rate (CAGR) over the last five years averaged at 1.74%.
Looking forward, the forecast indicates continued growth with a projected CAGR of 1.49% from 2024 to 2028, amounting to a 7.65% growth rate over the period.
Future trends to watch for include potential impacts from economic fluctuations, shifts in consumer preferences towards healthier and sustainable options, and regulatory changes affecting the food and beverage industry. Additionally, advancements in technology and production efficiency could further influence growth trajectories.